Zero vehicles see 10 percent raise, while 25 percent hike expected for second hand cars

In automotive, many brands have raised their zero vehicle prices at rates ranging from 4-10 percent. Representatives of the sector note that a 25 percent hike in used car prices is also expected.

Due to the effect of the exchange rate increase in May, car prices have increased. It was also noted that there were no models left in the bottom tranche.

According to information compiled by Bloomberg HT, zero cars have seen price hikes at rates ranging from 4 percent to 10 percent. While some brands reflected the hike in their prices last week, some brands also increased their prices on May 31 – June 1.

A 25 PERCENT INCREASE IN USED CARS IS EXPECTED

The Chairman of the Federation of Motor Vehicle Dealers made evaluations to media regarding automobile prices, saying, “We advise our citizens who want to buy used vehicles to buy vehicles as soon as possible because we anticipate that the price increase will continue. Prices will increase by 25 percent.”